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Miller Corporation has a premium bond making semiannual payments. The bond pays a coupon of 9 percent, has a YTM of 7 percent, and has

Miller Corporation has a premium bond making semiannual payments. The bond pays a coupon of

9

percent, has a YTM of

7

percent, and has

19

years to maturity. The Modigliani Company has a discount bond making semiannual payments. This bond pays a coupon of

7

percent, has a YTM of

9

percent, and also has

19

years to maturity.

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